Black Wealth, The Real Deal

The Supreme Court was bang on when it said on Tuesday that the government's
hit on black money "appears to be carpet-bombing and not a surgical
strike". The collateral damage has certainly been huge.

Demonestisation is usually associated with decrepit
economies with hyper-inflation, such as Zimbabwe recently and Argentina in the
past. Fiji and the Philippines also have demonetised their currency in the
past. British India demonetised its currency in 1946
ostensibly to hit war profiteers. But this was largely seen as a wealth
grab by an outgoing colonial administration.